(NCL) category should have OBC (NCL) certificate issued on or after March 01, 2019 but earlier than

the due date (closing date) of the application.

d. Relaxation of 10 (ten) years for PwBD candidates shall be applicable whether the post is reserved or
not. Relaxation of 13 (thirteen) years for PwBD (OBC) candidates where vacancies are reserved for
OBC candidates. Relaxation of 15 (fifteen) years for PwBD (SC/ST) candidates where vacancies are
reserved for SC/ST candidates.
e. Relaxation of 5 (five) years for Ex-servicemen. Ex-servicemen include Emergency Commissioned
Officers/Short Service Commissioned Officers, who have rendered at least five years continuous
Military Service and have been released a) on completion of assignment (including those whose
assignment is due to be completed within one year from February 29, 2020) otherwise than by way of
dismissal or discharge on account of misconduct or inefficiency or b) on account of physical disability
physical disability attributable to Military Service or c) on invalidment. Emergency Commissioned
Officers/Short Service Commissioned Officers who have completed their initial period of assignment of
five years of Military Service but whose assignment has been extended beyond five years and in whose
case the Ministry of Defence issues certificates that they would be released on selection within three
months from the date of receipt of offer of appointment.
f. Candidates belonging to the Scheduled Castes and the Scheduled Tribes and the Other Backward
Classes who are also covered under the category of Persons with Benchmark Disabilities and Ex-
servicemen will be eligible for grant of cumulative age-relaxation.

Where there is no vacancy reserved for OBC/SC/ST category candidates, such candidates can still apply.
However, they will not be eligible for any relaxations. SC/ ST candidates are exempt from payment of application
fee even in such case but will have to pay specified intimation charges. OBC/ PwBD candidates should possess
a latest certificate to this effect issued by the Competent Authority in the prescribed Format (formats are
available on the SEBI website).

II. MODE OF SELECTION: Mode of selection shall be a three stage process i.e. Phase I (on-line screening
examination consisting of two papers of 100 marks each), Phase II (on-line examination consisting of two
papers of 100 marks each) and Phase III (Interview).

a. Phase I On-Line Examination:

An online screening examination consisting of two papers (Multiple Choice questions of 100 marks each)
will be held on April 12, 2020. The exam will consist of:

Paper Streams/ Subjects Maximum Duration Cut off

Marks
Paper 1 All Streams: Multiple choice questions on the 100 60 minutes 30%
subjects viz. General Awareness (including some
questions related to Financial Sector of easy to
moderate difficulty level), English Language,
Quantitative Aptitude and Test of Reasoning.
General Stream: Multiple choice questions on
subjects Commerce, Accountancy, Management, 100 40 minutes 40%
Finance, Costing, Companies Act and Economics.
Legal, Information Technology, Engineering
Stream (Civil & Electrical), Official Language
Paper 2 stream: Multiple choice questions on Specialized
subject related to stream. 100 40 minutes 40%
Research Stream:- Multiple choice questions on
subjects Economics, Econometrics, Statistics,
Finance and Commerce.
Aggregate Cut off 40%

i. There shall be negative marking (1/4th of marks assigned to the question) for the Paper 1 and Paper 2
in Phase I.
ii. There shall be a cut-off of minimum 30% for Paper 1 (no sectional cut-off shall be there) and a cut-off
of minimum 40% for Paper 2 in Phase I.

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 iii. Candidates would need to secure separate cut-off in each paper as mentioned at (ii) above as well as
aggregate cut-off marks of 40% in Phase I exam to be shortlisted for Phase II. Marks obtained in Phase
I shall be used only for shortlisting the candidates for Phase II examination process and will not be
counted for final selection of the candidates.
iv. Subject to the criteria mentioned at (iii) above, all the candidates who clear Phase I shall be shortlisted
for Phase II. List of candidates shortlisted for Phase II will be made available on SEBI website.

Syllabus for the papers in Phase I is available in the Annexure to this advertisement.

b. Phase II On-Line Examination:

An on-line examination consisting of two papers of 100 marks each will be held on May 03, 2020. The
papers shall be as follows:

Paper Maximum Duration Cut off Weigh

Marks tage
Paper 1 All streams: English (Descriptive Test) to 100 60 30% 1/3rd
test the drafting skills minutes
General Stream: Multiple choice questions on
subjects Commerce, Accountancy, 100 40 40% 2/3rd
Management, Finance, Costing, Companies minutes
Act and Economics.
Legal, Engineering Stream (Civil &
Paper 2 Electrical) and Official Language stream:
Multiple choice questions on Specialized 100 40 40% 2/3rd
subject related to stream. minutes
Research Stream:- Multiple choice questions
on subjects Economics, Econometrics,
Statistics, Finance and Commerce.
Aggregate Cut off 40%
Note:- The details with respect to Paper – 2 of Phase II for Information Technology Stream shall be made
available on SEBI website (www.sebi.gov.in) in due course.

i. Candidates shortlisted for Phase II will be issued new Hall Tickets.

ii. For candidates who have applied in multiple streams, Paper II will be conducted in various shifts, the
timings of which will be intimated in the Hall Ticket.
iii. There shall be negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II
(except IT stream for which details shall be informed in due course).
iv. There shall be a cut-off of minimum 30% for Paper 1 and a cut-off of minimum 40% for Paper 2 in
Phase II.
v. Candidates would need to secure separate cut-off in each paper as mentioned at (iv) above as well as
aggregate cut-off marks of 40% in Phase II exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2)
to be shortlisted for Phase III.
vi. Subject to the criteria mentioned at (v) above, candidates equaling 3 times the number of vacancies
shall be shortlisted, in order of merit, for Phase III i.e. the Interview. List of candidates shortlisted for
Interview will be made available on SEBI website.

Note: All question papers (in both the Phases, except the test of English) will be set bilingually in Hindi and
English.

Syllabus for the papers in Phase II is available in the Annexure to this advertisement.

c. Interview: Only the shortlisted candidates will be called for interview. Application fee shall not be refunded
to the candidates not shortlisted for Phase II and Interview. Candidate may opt for interview either in Hindi
or English. Weightage of marks obtained in Phase II will be 85%, while marks obtained in interview shall
be given a weightage of 15%.

SEBI reserves the right to modify the selection procedure, if deemed fit.

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